AI in the boardroom: could robots soon be running companies? - Corrs Chambers Westgarth

Artificial intelligence (AI) and automation more broadly continue to be identified as the next frontier in productivity enhancement and growth. Last year, McKinsey estimated AI could potentially increase economic outputs by $13 trillion by 2030, and add to global GDP by approximately 1.2%.[1] Consistent with the trend, it is likely that Australian boards will increasingly look to AI and machine learning to improve the quality of their decision making. But can an algorithm run a company instead of a director? The term'AI' is often used synonymously with machine learning, but this is not strictly correct. True AI exhibits features of human-like intelligence and the ability to use human-like judgement in decision-making.